Head into 2024 with a productive start by writing your Will and ensuring that your assets are protected and will be distributed how you choose.
Do you have particular wishes you would want to be followed and do you know who you would like to leave your estate to when you die? Without a clear Will in place your wishes may not be followed in the event of your death and those who you would like to inherit your estate may not automatically do so.
So the question is…. why is making a will so important?
Leave your estate to who you choose
If you do not have a Will in place your property will be distributed in line with intestacy laws which may not be what you desire.
If you are not married or in a civil partnership, your partner will not automatically inherit your estate without a Will dictating that they should.
A Will ensures you can protect your partner’s home, their financial affairs and allows you to plan for the tax-efficient distribution of your estate to protect the interests of those you care about
Make situations easier after you pass
In your Will you can set out your funeral arrangements if you choose, stating who will receive certain belongings and picking your children’s guardians – therefore helping them through a difficult time.
Your Will may not be valid if your circumstances have changed
If your circumstances have changed, your Will may be affected. For example, if you’ve married, remarried, entered a civil partnership, if you’ve divorced, separated or dissolved a civil partnership, or following the birth or adoption of children.
Peace of mind
Setting out your Will provides you with peace of mind knowing that your wishes will be respected, your loved ones protected and a clear plan in place.
This article has been prepared by PayPlan along with our partner Adroit Legal Services and is not intended to constitute legal advice.
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